For the construction or improvement and maintenance of rural post roads or such other roads, highways and streets as may be eligible for federal aid funds, the good faith of the state is pledged to make available funds which alone, or combined with funds made or to be made available by counties and cities, will be sufficient to match funds made available to the State of Oregon by the federal government for highway, road or street purposes. For the purpose of evidencing such good faith the Department of Transportation, in the name of the state, is authorized to enter into any and all agreements with the federal government. [Formerly 366.715]